The regulators get millions out of repeat offenders until TikTok caves and complies with the demands of the regulators.
Win for regulators, Win for users and Tiktok can still operate as long as it follows the rules.
All you're saying is that we should tax things we don't like, which... duh. We do that- see alcohol, cigarettes, etc. Actual taxes work way better than fines, since they take into account the revenue involved instead of just being an arbitrary number. But an obvious consequence is that you aren't actually banning the thing, and in the case of a digital product like tiktok you're not even discouraging it.
If you levied a recurring fine on tiktok in return for allowing them to do what they want, you're actively encouraging them to collect and sell as much data as they possibly can, to recoup the fixed cost of doing business with you.
Nepal can’t necessarily know if that’s happening with but they have to consider that it might be. If that’s a concern in allowing TikTok, fines wouldn’t address the problem very well since money isn’t hard to come by if it buys enough value.
Every time this happens it's always "but it's bad when this multinational corporation I associate with China does it." Like come on, if you're worried about the Chinese government exerting authority over companies that operate in China TikTok has got to be the bottom barrel of your list.
The CCP has got to be so proud that their relative secrecy has got the rest of the world quaking in their boots about how much power they wield and giving them nigh omnipotence of any person or entity that comes in contact with them.
That's assuming that citizens want censorship. Most of the time citizens do not have the same goals as the state's censors.